For those of you unfamiliar with Picnik, it is a Seattle based start-up that offers a pretty slick online photo editing suite that is the default photo editor in Flickr and PhotoWorks. It also integrates seamlessly with a number of other sites including Facebook, MySpace, Picasa Web Albums, Photobucket, Webshots, Box.net and more.

In simultaneous posts on the Google Blog and on the Picnik Blog just after midnight March 1st the acquisition was announced. According to the New York Times Picnik serves nearly 2 million unique users a month. A premium edition of Picnik is available for $25.

One of the barriers of being a Picasa user is that I can not upload images to Flickr, my photo social network of choice. Now that Picnik is the common feature between Picasa and Flickr maybe there will be a way to upload to Flickr. Moreover, it will be increasingly interesting to see how Flickr reacts to the acquisition. Will they continue to use the Picnik service or will they look to create their own editing features?

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Shashi Bellamkonda is the Chief Marketing Officer at Surefire Social. He is also an adjunct professor at Georgetown University. Shashi is passionate about helping startups and small business and has been recognized twice as one of the Top 100 Tech Titans by the Washingtonian and Top 100 Small Business Influencer Champion 2011 by Small Business Trends. Follow him on Twitter @shashib.